Jo Cox’s murder in a politically charged environment is a cause for introspection for the United Kingdom. When political matters are abused by ambitious politicians who seek to lever the issue for publicity to their own selfish benefit, they often lead emotionally charged citizens to extreme actions, including murder. The death of a young woman serving as a representative of her country is unwarranted where voters will decide the matter. Yet, it happened, and now the opposing campaigns are calling off their efforts for at least Thursday and likely through the funeral. However, I think there’s a good chance U.K. Prime Minister Cameron will recognize the need for everyone to put things into perspective. While the destiny of the great nation is obviously hugely important, it’s not worth civil war, and so the rhetoric needs to come down a notch. And, perhaps for the good of the nation, the so-called Brexit vote itself needs to be delayed. It would prove meaningful for England and markets globally, but it will not bring Jo Cox back.
Our founder earned clients a 23% average annual return over five years as a stock analyst on Wall Street. "The Greek" has written for institutional newsletters, Businessweek, Real Money, Seeking Alpha and others, while also appearing across TV and radio. While writing for Wall Street Greek, Mr. Kaminis presciently warned of the financial crisis.
Brexit Vote Delay
The U.K. referendum to decide whether to remain or to leave the European Union has divided the Kingdom in two. The citizenry is so evenly divided that global financial markets are fluctuating like the ocean does between two opposing storms. Uber-investors like George Soros have issued all-out warnings and have gone to gold, driving up the price of mankind’s default currency substantially. Meanwhile, the values of the British pound and the euro have tumbled against other currencies due to the unknown fallout risk from the possible breakup. But then on Thursday, something happened that felt like a slap to the face of the entire civilized world.
Jo Cox, a young and vibrant MP for the opposing Labor Party, not to mention a mother of two, was shot by a 52 year-old man. Why? She died of her wounds within minutes of the tragic national wake up call. Now, today, the British are rethinking just how important this supposed critical vote really is. Is it worth killing one another over?
As a result of the murder, and announcements by the two campaigns that each would suspend their activities today and likely tomorrow, currencies, commodities and equities all reversed course sharply. It was a sign of how important a move would occur if Brexit were voted down, and it was also a sign of what might occur if the U.K. referendum is delayed. Stocks and oil will rip higher and gold will collapse.
It is now squarely on the shoulders of the leaders of the nation to call for national introspection. I hope to see Prime Minister Cameron address his nation with this somber tone and message, because the political fervor of the Brexit campaign is as guilty as the man who pulled the trigger for that poor young lady’s death. Every Britain, and every American now engaged in similarly polarizing rhetoric, should search their hearts now and apologize to one another for the division they allowed to flourish. May her memory be eternal and the lesson of her death be never forgotten.
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